IKAR in Mass Media

Russia’s Raw Sugar Imports May Drop 50% on Bigger Beet Crop

05 августа 2011 года

Aug. 3 (Bloomberg) -- Russia may cut it sugar imports by 50 percent because of a bigger domestic sugar beet crop, said Andrei Bodin, head of the country’s Sugar Producers Union.

The sugar beet crop may result in record sugar production of 4.3 million metric tons for the 2011-12 season, up 59 percent from a year earlier, Evgeny Ivanov, an analyst at Russia’s Institute for Agricultural Market Studies, or IKAR, said from Moscow. Production from imports will be down 50 percent to about 1 million tons, Bodin said by phone in Moscow. The crop year runs from Aug. 1 to July 31.

Imports will account for less than 22 percent of Russia’s sugar production this year compared with 42 percent last year, IKAR said. Cargill Inc., Sucden SA, Louis Dreyfus Corp. and Vitol SA were the largest sellers of raw sugar from cane to Russia last year, according to IKAR.

Source: Bloomberg | #sugar | Comments: 0 Views: 59

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